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What are fixed rate mortgages?


For the latest updates and essential information during the COVID-19 pandemic read our FAQs.


Important information: your mortgage and the stamp duty holiday

Ahead of the extended stamp duty holiday deadline on 30 June please be aware we cannot guarantee your mortgage will complete in time for you to be eligible. This particularly applies for purchase applications and any remortgages where additional borrowing for any onward purchase is required.

For information about the stamp duty holiday and rates which will apply from 1 July please click here to visit gov.uk.


Fixed rate mortgages are suitable if you want to pay a set amount each month and do not want your monthly payment to fluctuate. This type of mortgage can be helpful in making budgeting more straightforward. Your interest rate remains the same for a set period of time and the amount you pay for your mortgage each month will remain the same regardless of any changes in the Bank of England base rate or the standard variable rate of Ipswich Building Society. If you want to leave a fixed rate mortgage deal before the end of the set term, you may be charged an early repayment fee.

Please refer to individual product pages for more information on our specialist fixed rate mortgages.

Residential Standard

2.75% 2 Year Fixed Rate 80% LTV

About
Fees
Apply
  • FIXED RATE of 2.75% until 30/06/2023 then reverting to 3.50% (Ipswich SVR minus 1.74%) until 30/09/2026 then changing to Ipswich Standard Variable Rate (currently 5.24%)
  • 4.3% APRC
  • Available for purchase and remortgage only up to 80% LTV

15256, 72348

Completion Fee Application Fee (Payable with application and non-refundable) Valuation Fee (Payable with application) Higher Lending Charge CHAPS (Fee for transfer of funds to solicitor) Maximum Loan Amount
£800 £19 Purchase: Based on property valuation Remortgage: FREE - £35 £750k

No charge for overpayments of up to 50% of original loan amount
Early repayment charge period ends 30/06/2023
Overpayment of 50% or above - Early repayment charge is 3% of the overpayment
Redemption - Early repayment charge is 3% of the original loan amount

To apply, please speak to one of our expert Mortgage Consultants, based in Ipswich, on 0330 123 0773 - we're happy to discuss your application over the telephone or, if you'd prefer, we can arrange to meet with you at one of our 9 branches across Suffolk.

In the meantime, you may find it useful to look at our mortgage calculator to get an idea of what your monthly payment may be.

To apply for this product visit our Apply and Track section, or give our intermediary sales team a call on 0330 123 1073.

 

 

 

3.10% 5 Year Fixed Rate 80% LTV

About
Fees
Apply
  • FIXED RATE of 3.10% up until 5 years from date of completion then changing to Ipswich Standard Variable Rate (currently 5.24%)
  • 4.4% APRC
  • For purchase and remortgage only up to 80% LTV

15257, 72349

Completion Fee Application Fee (Payable with application and non-refundable) Valuation Fee (Payable with application) Higher Lending Charge CHAPS (Fee for transfer of funds to solicitor) Maximum Loan Amount
£800 £199 For purchase: based on property valuation. Remortgage: FREE - £35 £750k

No charge for overpayments of up to 50% of original loan amount
Early repayment charge period ends 5 years from date of completion
Overpayment of 50% or above - Early repayment charge is 5% of the overpayment
Redemption - Early repayment charge is 5% of the original loan amount

For remortgage only - fee assisted legals

To apply, please speak to one of our expert Mortgage Consultants, based in Ipswich, on 0330 123 0773 - we're happy to discuss your application over the telephone or, if you'd prefer, we can arrange to meet with you at one of our 9 branches across Suffolk.

In the meantime, you may find it useful to look at our mortgage calculator to get an idea of what your monthly payment may be.

To apply for this product visit our Apply and Track section, or give our intermediary sales team a call on 0330 123 1073.

 

 

 

 

 

2.99% 2 Year Fixed Rate 85% LTV

About
Fees
Apply
  • FIXED RATE of 2.99% up until 30/06/2023 then reverting to 3.50% until 30/09/2026 then changing to Ipswich Standard Variable Rate (currently 5.24%)
  • 4.4% APRC
  • For purchase or remortgage up to 85% LTV

 15258, 72350

Completion Fee Application Fee (Payable with application and non-refundable) Valuation Fee (Payable with application) Higher Lending Charge CHAPS (Fee for transfer of funds to solicitor) Maximum Loan Amount
£800 £199 Based on property valuation Remortgage: FREE - £35 £500k

No charge for overpayments of up to 50% of original loan amount
Early repayment charge period ends 30/06/2023
Overpayment of 50% or above - Early repayment charge is 3% of the overpayment
Redemption - Early repayment charge is 3% of the original loan amount

To apply, please speak to one of our expert Mortgage Consultants, based in Ipswich, on 0330 123 0773 - we're happy to discuss your application over the telephone or, if you'd prefer, we can arrange to meet with you at one of our 9 branches across Suffolk.

In the meantime, you may find it useful to look at our mortgage calculator to get an idea of what your monthly payment may be.

To apply for this product visit our Apply and Track section, or give our intermediary sales team a call on 0330 123 1073.

 

 

3.39% 2 Year Fixed Rate 90% LTV

About
Fees
Apply

 

  • FIXED RATE of 3.39% up until 30/06/2023 then reverting to 3.50% until 30/09/2026 then changing to Ipswich Standard Variable Rate (currently 5.24%)
  • 4.5% APRC
  • For purchase or remortgage

This product is not available to applicants who are self-employed or on furlough, or to mortgage holders currently on a payment deferral with their existing lender. In addition, applicants who have taken a payment deferral on their existing mortgage or have been furloughed since 30 September 2020 are not eligible. Any applicants furloughed prior to this date must have now returned to work full time.

15265, 72357

Completion Fee Application Fee (Payable with application and non-refundable) Valuation Fee (Payable with application) Higher Lending Charge CHAPS (Fee for transfer of funds to solicitor) Maximum Loan Amount
£800 £199 £35 £500k

No charge for overpayments of up to 50% of original loan amount
Early repayment charge period ends 5 years from date of completion
Overpayment of 50% or above - Early repayment charge is 3% of the overpayment
Redemption - Early repayment charge is 3% of the original loan amount

Remortgage only: fee assisted legals

 

To apply, please speak to one of our expert Mortgage Consultants, based in Ipswich, on 0330 123 0773 - we're happy to discuss your application over the telephone or, if you'd prefer, we can arrange to meet with you at one of our 9 branches across Suffolk.

In the meantime, you may find it useful to look at our mortgage calculator to get an idea of what your monthly payment may be.

To apply for this product visit our Apply and Track section, or give our intermediary sales team a call on 0330 123 1073.

 

 

3.59% 5 Year Fixed Rate 90% LTV

About
Fees
Apply

 

  • FIXED RATE of 3.59% until 5 years from date of completion then changing to Ipswich Standard Variable Rate (currently 5.24%)
  • 4.6% APRC
  • For purchase or remortgage

This product is not available to applicants who are self-employed or on furlough, or to mortgage holders currently on a payment deferral with their existing lender. In addition, applicants who have taken a payment deferral on their existing mortgage or have been furloughed since 30 September 2020 are not eligible. Any applicants furloughed prior to this date must have now returned to work full time.

15255, 72347

Completion Fee Application Fee (Payable with application and non-refundable) Valuation Fee (Payable with application) Higher Lending Charge CHAPS (Fee for transfer of funds to solicitor) Maximum Loan Amount
£800 £199 £35 £500k

No charge for overpayments of up to 50% of original loan amount
Early repayment charge period ends 5 years from date of completion
Overpayment of 50% or above - Early repayment charge is 5% of the overpayment
Redemption - Early repayment charge is 5% of the original loan amount

Remortgage only: fee assisted legals

 

To apply, please speak to one of our expert Mortgage Consultants, based in Ipswich, on 0330 123 0773 - we're happy to discuss your application over the telephone or, if you'd prefer, we can arrange to meet with you at one of our 9 branches across Suffolk.

In the meantime, you may find it useful to look at our mortgage calculator to get an idea of what your monthly payment may be.

To apply for this product visit our Apply and Track section, or give our intermediary sales team a call on 0330 123 1073.

 

 

 

 


Representative example

FIXED EXAMPLE: A mortgage of £228,600.00 payable over 20 years initially on a fixed rate until 30/06/2023 at 2.75%, then on our Standard Variable Rate currently at 5.24% with a discount of 1.74%, giving a pay rate of 3.50% until 30/09/2026 (please note that the rate payable will never fall below 3%). This will be followed by our Standard Variable Rate currently at 5.24% for the remainder of the mortgage term. This would require 27 monthly payments of £1243.92, followed by 39 monthly payments of £1321.50, followed by 174 monthly payments of £1479.96. The total amount payable would be £343,131.38 made up of the loan amount plus interest (£113,202.38), an application fee of £199, a completion fee of £800, a valuation fee of £200, a mortgage funds release fee of £35 and a mortgage exit fee of £95. The overall cost for comparison is 4.3% APRC representative.


YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE

Your home may be repossessed if you do not keep up repayments on your mortgage.